HOME REPOSSESSIONS

Over 400 home re-possession orders were made by Romford County Court in the second quarter of 2009 according to official statistics just published.  According to the Ministry of Justice, the local court granted 190 possession orders to mortgage companies and 235 landlord possession orders in the three months ended June 2009.  The numbers are an increase on the first quarter when 183 mortgage re-possessions and 216 landlord re-possessions were granted.

Separate data by the Council of Mortgage Lenders (CML) indicates that across the country possession orders fell during the second quarter, although CML has warned that while the economy remains weak and with unemployment still growing, arrears and possessions are likely to rise in the second half of the year.

Commenting, Hornchurch & Rainham MP James Brokenshire said:

“These numbers highlight the real life impact of the recession.  Many families are struggling to keep up payments on mortgages and meet rent payments and it is distressing to see the number of people who have lost their home this year.

“It’s important that if people are struggling to meet their outgoings they contact their mortgage company or seek other advice.  Some lenders have telephone help-lines or debt counselling facilities to assist making contact. Help and advice is also available from a number of other organisations.

“One of the key challenges is stopping more firms from going under and maintaining people in work.  That’s why I support the introduction of a £50 billion national loan guarantee scheme to encourage the banks to lend to firms whose cash flow is being stretched and keep them in business.”

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